Reported 4 months ago
Swiss Finance Minister Karin Keller-Sutter highlighted the legal risks involved in the potential winding up of global banks, emphasizing the need for standardized international rules for dealing with 'too big to fail' banks. Keller-Sutter expressed concerns about the feasibility of winding up banks due to international legal risks, citing the example of Credit Suisse's collapse. She discussed the importance of managing these risks and ensuring systemically relevant banks support their foreign subsidiaries adequately to prevent damage to the parent company, as seen in the case of Credit Suisse. The article also mentions Credit Suisse's takeover by UBS and S&P revising UBS Group AG's outlook to stable from negative.
Source: YAHOO